Jio Finance to debut rupee bond sale

Jio Finance Ltd, a shadow lender owned by Asia's richest businessman Mukesh Ambani, is planning to raise as much as ₹1,000 crore in the onshore market through its first ever bond sale, according to people familiar with the matter.

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The company plans to raise the funds through a note due in March 2028, the people said, asking not to be identified. The bond will have a coupon of 7.19% and the financier is likely to seek bids for the issuance next week, they said.